Wall Street closed lower, amid efforts for peace talks between Ukraine and Russia. Russian troops bombarded the outskirts of Kyiv and besieged cities in northern Ukraine, a day after pledging to scale back operations. Market participants were also relatively defensive, as the Fed’s tight monetary policy and new signals in the bond market indicate a recession in the United States (US). The Dow Jones closed down 0.19%, the S&P 500 down 0.63%, and the Nasdaq fell 1.21%.

The Jakarta Composite Index (JCI) closed higher by 0.59% to 7,053, amid Russia’s efforts to reduce its military activity around the Ukrainian capital, Kyiv, on Wednesday. Meanwhile, the lockdown in China had caused world oil prices to fall, due to the threat to demand and consumption. Towards the end of the week, NHKSI Research projects that the JCI will move upward within the same range of around the 7,000 to 7,100.

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